Lithuanian tax revenues up over 5% in first three months of year

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Lithuanian tax revenues up over 5% in first three months of year

Tax revenues collected by the Lithuanian state and municipalities were up 5.7% in the first quarter of 2016.

State and municipal budgets collected 2.6% (€42.7 million) more revenue than projected and 5.7% or €90.5 million more than the same period last year according to preliminary data from the Ministry of Finance.

The forecasted total budget revenues for January-March were projected to be €1.644 billion but Lithuania actually collected €1.687 billion in that period.

Total state revenues in January-March were just under 1% ahead of projections of €1.33 billion revenue at €1.34 billion.

Revenue from tax collection was up 0.3% to €1.26 billion, €4.4 million more than projected and €52.5 million or 4.4% higher than the same period last year.